PCP & Hire Purchase Car Finance

  • Try their free online finance calculator, and if you choose to take out finance with Magnitude, you will receive a £50 Amazon voucher as a thank you.

  • Competitive PCP & Hire Purchase Quotes.
  • Quickly compare offers from over 20 lenders.
  • Get the best available rates on cars from £15,000 - £250,000
  • Rates start from 8.9% APR with a representative APR of 8.9%*.
  • Use a Trustpilot 5 Star rated team with expert knowledge.
  • A streamlined and convenient process: Simply request a quote, complete an online application, and we handle the payment to the dealership.
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About Us

Magnitude Finance, established over 30 years are the market leaders in used car finance offering a range of Personal Contract Purchase (PCP) and Hire Purchase (HP) products. Their mission is simple, deliver Exceptional customer experiences, offer Competitive rates to all customers via their finance calculator and to be Straightforward, simplicity does not mean fewer options.

Magnitude Finance are part of the DSG Finance Group, a 220 strong team who regularly provide finance for over 2,500 customers every month, you are in safe hands. Oh, and they care about our world to, they are a B Corp business!

PCP Highlights

PCP car finance is a popular method of financing a new or used car. It offers several benefits that make it an attractive option for many UK car buyers. Here are five features of PCP car finance:

  1. Lower Monthly Payments: PCP typically offers lower monthly payments compared to traditional car loans. This is because you're not financing the entire cost of the vehicle, but only the depreciation during the contract term.
  2. Flexibility: PCP provides flexibility at the end of the contract. You have the option to return the car and walk away, make a balloon payment to purchase the vehicle outright, or start a new PCP agreement for a different vehicle.
  3. Fixed Budgeting: With fixed monthly payments, PCP makes budgeting easier and more predictable. You'll know exactly how much you need to pay each month, making it easier to manage your finances.
  4. Easily Change Your Car: PCP typically has a shorter term (typically between 2 - 4 years), which means you can change your car more frequently without having to worry about selling it or negotiating a part exchange price.
  5. Protection: PCP agreements have a guaranteed future value (GFV), if the car’s actual market value at the end of the agreement is less than the GFV, you are not responsible for the shortfall, you hand the car back and the finance company absorbs the depreciation.

It's important to note that while PCP offers these benefits, it also has some potential drawbacks. These include, mileage restrictions, wear and tear costs and ownership, you will not own the car at the end of the agreement unless you pay the GFV. It's essential to carefully consider your financial situation and driving habits to determine if PCP is the right financing option for you.

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We are a credit broker and not a lender. Magnitude Finance is a trading style of DSG Financial Services Ltd. DSG Financial Services Ltd is a company registered in England & Wales with a company number 02313903. Our VAT registration number is 511678843.

*Representative Example - Personal Contract Purchase: Cash Price £15,000.00, Deposit £500.00, borrowing £14,500.00 over 4 years at 8.9% Representative APR (fixed). 47 monthly payments of £228.99 followed by a final payment of £7,560.00. Total cost of credit of £3,832.53 and total amount payable of £18,832.53. Based on 8,000 miles per annum, excess mileage charges will apply if this is exceeded. Finance subject to status 18+ only.

*Free £50 Amazon Voucher will be sent 14 days after you finance agreement is activated. You must mention Radio Times when calling